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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Beiqi Foton Motor Co., Ltd.    600166   CNE000000WC6

BEIQI FOTON MOTOR CO., LTD.

(600166)
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Beiqi Foton Motor : China's Foton aims to sell 200,000 new energy commercial vehicles by 2025

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11/16/2019 | 03:58am EST
Worker stands next to robotic arms welding pump truck part at a factory of the Foton Loxa Heavy Machinery Co in Zhangjiakou, Hebei

Daimler's Chinese truck venture partner Beiqi Foton Motor aims to sell 200,000 new energy commercial vehicles a year by 2025, its chairman said on Saturday.

Beijing-based Foton, a BAIC Group unit, will develop electric, hydrogen fuel cell and gasoline-electric trucks and vans, Zhang Xiyong told a conference on Saturday.

Foton, which also builds Auman-branded trucks with Daimler, plans to invest 18 billion yuan (£2 billion) on research, supply chain and manufacutring facilities for the new energy commercial vehicle project, it said in a statement to Reuters.

In April, Toyota Motor Corp said it would supply fuel cell vehicle parts to Foton in a push to promote the fuel cell vehicle industry in China.

A growing number of automakers operating in China, the world's biggest vehicle market, are investing in electric vans and trucks. They are convinced by increasingly stringent restrictions aimed at reining in pollution, and robust demand for light-duty trucks as e-commerce flourishes, Reuters reported last year.

(Reporting by Yilei Sun and Brenda Goh; Editing by Edwina Gibbs and Jacqueline Wong)

Stocks mentioned in the article
ChangeLast1st jan.
BEIQI FOTON MOTOR CO., LTD. 0.49% 2.05 End-of-day quote.15.38%
TOYOTA MOTOR CORPORATION 0.04% 7730 End-of-day quote.25.08%
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Financials (CNY)
Sales 2018 -
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 -
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Capi. / Sales2019 -
Capitalization 13 479 M
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Last Close Price 2,04  
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Managers
NameTitle
Yue Qiong Gong General Manager & Director
Xi Yong Zhang Chairman
Hong Jin Xing Chairman-Supervisory Board
Yan Mei Li Chief Financial Officer
Yuan Xian Shang Director
Sector and Competitors
1st jan.Capitalization (M$)
BEIQI FOTON MOTOR CO., LTD.15.38%1 906
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